Sanp (SANP) reported Q1 results after the close and the numbers were a huge disappointment. The first quarterly report after an IPO is always volatile as analysts have a difficult time modeling the numbers not knowing whether the management team under or over promises. The social network reported revenue grew 286% to $150 million though short of expectations at $158 million. The bigger issue is that DAUs were only 166 million. DAUs only grew 5% sequentially though slightly above the 5 million added QoQ in Q4. These limited user gains aren't enough when the adjusted EBITDA doubled YoY to a massive loss of $188 million. One must avoid this disaster even with the stock down 20% to $18.50 still placing the market cap above $22 billion based on 1.2 billion shares outstanding. Disclosure: No position